"Manchester City FC did not disguise equity funding as sponsorship contributions but did fail to cooperate with the UEFA authorities," the Court of Arbitration for Sport wrote in a statement.
The court's decision states that City's exclusion from participation in UEFA competitions has been lifted, but the club have been fined €10m. The four-time Premier League champions were set to pay a €30m fine and face a two-year ban from the Champions League and Europa League and the Super Cup (if they were to win the Champions League this season).
However, after their appeal from February 14 concluded on July 13, Pep Guardiola's men will now be able to play in the Champions League next season having already sealed a route there through a second place in the English top-flight.
City will have to pay the €10m fine within 30 days and, ironically, this small amount will be nothing for a club of such great wealth and be paid with ease.